Zacks Research upgraded shares of Weatherford International (NASDAQ:WFRD – Free Report) from a hold rating to a strong-buy rating in a research report report published on Monday,Zacks.com reports.
A number of other equities analysts have also recently issued reports on WFRD. Royal Bank Of Canada started coverage on Weatherford International in a report on Wednesday, March 18th. They set an “outperform” rating and a $105.00 price target on the stock. The Goldman Sachs Group increased their price target on Weatherford International from $83.00 to $107.00 and gave the stock a “neutral” rating in a report on Wednesday, March 4th. Barclays increased their price target on Weatherford International from $111.00 to $156.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Wall Street Zen upgraded Weatherford International from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. Finally, UBS Group increased their price target on Weatherford International from $105.00 to $113.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $110.67.
Check Out Our Latest Stock Report on WFRD
Weatherford International Price Performance
Weatherford International (NASDAQ:WFRD – Get Free Report) last released its earnings results on Tuesday, April 21st. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.47. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. Weatherford International had a net margin of 9.49% and a return on equity of 28.31%. Weatherford International’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 earnings per share. On average, analysts expect that Weatherford International will post 6.13 earnings per share for the current year.
Weatherford International Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Wednesday, May 6th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Wednesday, May 6th. Weatherford International’s dividend payout ratio is presently 17.21%.
Hedge Funds Weigh In On Weatherford International
A number of institutional investors have recently modified their holdings of WFRD. Holocene Advisors LP raised its position in shares of Weatherford International by 712.8% during the second quarter. Holocene Advisors LP now owns 1,646,034 shares of the company’s stock worth $82,812,000 after purchasing an additional 1,443,512 shares during the period. Goldman Sachs Group Inc. raised its position in Weatherford International by 1,040.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,244,464 shares of the company’s stock valued at $97,392,000 after buying an additional 1,135,338 shares during the last quarter. Norges Bank purchased a new stake in Weatherford International in the 4th quarter valued at $61,399,000. Barclays PLC raised its position in Weatherford International by 1,096.6% in the 4th quarter. Barclays PLC now owns 855,752 shares of the company’s stock valued at $66,971,000 after buying an additional 784,237 shares during the last quarter. Finally, Millennium Management LLC raised its position in Weatherford International by 154.3% in the 3rd quarter. Millennium Management LLC now owns 1,159,192 shares of the company’s stock valued at $79,324,000 after buying an additional 703,401 shares during the last quarter. 97.23% of the stock is owned by institutional investors and hedge funds.
About Weatherford International
Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.
In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.
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